Split the sheets in California, and your wages are no longer community property. That’s because property acquired during marriage but after a marital separation isn’t community property. That’s been California law for a long while. The sticky wicket has been drawing the line when the marriage has broken down and the couple has separated. “When” they separated determines […]
“Hold Harmless” Survives “To Have and To Hold”
Divorce usually requires the division of the debts of the marriage along with the assets. The legalese usually requires each party to indemnify and hold harmless the other from the debts assigned to that party. Most folks skim over that provision to worry about the division of assets or support issues or the termination […]
Divorce And The Ticking Debt Bomb
Debts of the marriage often outlive the marriage itself. And, those left-over debts are nothing but trouble. But too often, divorcing couples don’t mop up the joint debts they held during the marriage, only to have the situation blows up years later when one ex-spouse hits financial trouble. Here’s a true story that illustrates the danger. […]
Same Sex Couples No Different In Bankruptcy
Same sex couples encounter financial troubles no differently than heterosexual couples. We live in “interesting” times as bankruptcy courts feel their way through the collision between California’s state laws on domestic partnerships and married same sex couples and the federal law found (and now ignored) in DOMA. Lead by judges in the Central District […]
